Let’s talk sports memorabilia.
Many of us used to collect for the love of the game or the idolatry of a team or a player. Today, many kids are still of the same innocent mindset and many adults are as well, but even more so are searching and shopping for sports memorabilia to flip it at a profit.
Back in the day, we would either seek out players at a game or follow them into restaurants and car washes hoping for an autograph. If we wanted a bat or game-worn jersey – I never got one of those from a ballplayer, did you? – we employed word-of-mouth, asked a collector where he got his treasures, traded a buddy for what he had, or went to a card shop or card show and browsed around.
It's fun to talk with friends and other collectors and find out where they got their treasures and it's still fun to check out your local card shop, antique store or flea markets, yard sales and the big sports memorabilia and card shows in your region.
Although these days, you may pay an entrance fee and a fee for anything a celebrity may sign as well as paying top dollar at the shows, less (usually) at yard sales and flea markets, for anything that is advertised as being game-worn, or celebrity signed.
There are also plenty of businesses doing plenty of sports memorabilia business. Estimates put the sports memorabilia business at anywhere from $5.4 billion to $15 billion per year. Most fans start out trading and buying inexpensive wares for the love of the game or their players, but now many collectors are investors, looking to buy and then flip for profit.
With the quest for profit come unsavory characters. With them comes fraud. The FBI estimates that roughly 50% of vintage sports memorabilia on the market is fraudulent. Other experts put the figure closer to 80%. So, if you are collecting for the love of the sport or for profit, caveat emptor -- let the buyer beware. Do your due diligence and check out the sources and the authentication before you buy.
We are not advocating for any of these businesses below, just listing a few, and we advise you to check them out thoroughly on your own, but some of the more popular outlets include eBay and several top auction companies including Sotheby’s, Heritage Auctions and Goldin Auctions.
Sports Collectors Digest features a list of accredited sports memorabilia dealers here. But still, check them out on your own.
Remember that $1 autograph you got or game-used bat your brother got for you at the ballpark? How about the top price for these seven items?
- 1952 Topps Mickey Mantle No. 311 baseball card -- $12.6 million through Heritage Auctions.
- Michael Jordan's “Last Dance” 1998 NBA Finals Jersey -- $10.091 million at a Sotheby's auction.
- Diego Maradona’s “Hand of God” 1986 World Cup Jersey -- $9.28 million at Sotheby’s.
- Pierre de Coubertin's Olympic Games Hand-written Manifesto -- $8,806,500 at Sotheby’s.
- 1909-1911 Honus Wagner T-106 baseball card -- $7.25 million at King of Collectibles' Goldin Auctions.
- Muhammad Ali’s 1974 WBC Heavyweight Championship Belt -- $6.18 million at private auction.
- Babe Ruth’s 1928 jersey -- $5.64 million through Hunt Auctions.
Want a piece of sports history to display, top cherish or sell? It only takes money and a good bit of due diligence. Research before you buy.
Hey, Let’s Talk Sports fans … this is our 97th Let’s Talk Sports column. For our 100th column, I am giving it to the readers. I am answering some of the many questions and comments I have received since first publishing this space.
So if you have a sports-related question you want to be answered, a comment you’d like to make, or an opinion you want to state, send it to me and Let’s Talk Sports.
Send me your comments at mike.blake@mountvernonnews.com.
